Short Interest in Biodesix, Inc. (NASDAQ:BDSX) Increases By 499.1%

Biodesix, Inc. (NASDAQ:BDSX) saw a significant growth in short interest in the month of January. As of January 15th, there was short interest totaling 483,591 shares, a growth of 499.1% from the December 31st total of 80,722 shares. Based on an average daily trading volume, of 7,865,756 shares, the days-to-cover ratio is presently 0.1 days. Currently, 8.7% of the company’s shares are short sold. Currently, 8.7% of the company’s shares are short sold. Based on an average daily trading volume, of 7,865,756 shares, the days-to-cover ratio is presently 0.1 days.

Analyst Ratings Changes

Several brokerages recently commented on BDSX. Wall Street Zen upgraded Biodesix from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Biodesix in a report on Monday, December 22nd. Four research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $32.50.

Insider Buying and Selling at Biodesix

In related news, Director Jack W. Schuler acquired 20,000 shares of the firm’s stock in a transaction that occurred on Monday, January 26th. The stock was acquired at an average cost of $11.80 per share, for a total transaction of $236,000.00. Following the completion of the acquisition, the director directly owned 1,563,210 shares of the company’s stock, valued at approximately $18,445,878. This trade represents a 1.30% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Over the last quarter, insiders have acquired 182,465 shares of company stock valued at $2,084,616 and have sold 2,247 shares valued at $18,154. 30.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Biodesix

Institutional investors have recently added to or reduced their stakes in the business. XTX Topco Ltd raised its position in shares of Biodesix by 99.4% in the second quarter. XTX Topco Ltd now owns 205,647 shares of the company’s stock valued at $58,000 after purchasing an additional 102,494 shares during the period. Millennium Management LLC bought a new stake in shares of Biodesix during the 3rd quarter valued at $113,000. Oracle Investment Management Inc. purchased a new stake in Biodesix during the 3rd quarter worth about $113,000. Finally, Aberdeen Group plc bought a new position in Biodesix in the 4th quarter worth about $1,784,000. 20.96% of the stock is owned by hedge funds and other institutional investors.

Biodesix Stock Up 9.8%

Shares of NASDAQ:BDSX opened at $11.08 on Wednesday. The company has a market capitalization of $88.15 million, a PE ratio of -1.99 and a beta of 0.60. Biodesix has a 1 year low of $3.44 and a 1 year high of $21.60. The company has a debt-to-equity ratio of 41.11, a current ratio of 1.84 and a quick ratio of 1.84. The business has a fifty day moving average price of $7.75 and a two-hundred day moving average price of $7.73.

Biodesix (NASDAQ:BDSX) last posted its quarterly earnings data on Monday, November 3rd. The company reported ($1.16) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.60) by $0.44. Biodesix had a negative net margin of 49.31% and a negative return on equity of 504.41%. The business had revenue of $21.77 million during the quarter, compared to the consensus estimate of $20.98 million. Analysts forecast that Biodesix will post -0.35 earnings per share for the current year.

Biodesix Company Profile

Biodesix, Inc is a commercial-stage molecular diagnostics company headquartered in Boulder, Colorado, that develops and delivers blood-based tests to improve the diagnosis and management of lung diseases, including lung cancer. The company integrates advanced proteomic and, more recently, genomic technologies to offer noninvasive testing solutions designed to guide clinical decision-making. Biodesix operates a CLIA-certified and CAP-accredited laboratory, allowing it to process patient samples at scale and maintain rigorous quality standards.

The company’s flagship product, VeriStrat®, is a proteomic test that stratifies patients with non-small cell lung cancer into groups more likely to benefit from specific therapies.